CBRE Arranges Sale of 1.4 Million SF, Two Building Portfolio within Hendricks Gateway Park in Indianapolis

CBRE has arranged the sale of Buildings 1 and 4 within Hendricks Gateway Park, a 214-acre logistics park in the Southwest submarket of Indianapolis to Canadian-based investor Granite Real Estate Investment Trust.

Andrew Morris and Jeremy Woods of CBRE represented the seller, Atlanta-based Core 5 Industrial Partners, in the transaction.

Located at 2128 Gateway Point and 10566 Gateway Point, Buildings 1 and 4 total 1,354,629 square feet and are fully leased by MARS Petcare and LifeScience Logistics.

"CORE 5 develops exceptional quality buildings and a park layout that is second to none,” said CBRE’s Andrew Morris. “The high-quality tenancy is indicative of this and the fact that the Southwest/Airport submarket is the default first choice for occupiers seeking a supply chain solution in Indianapolis. CBRE has enjoyed being a part of Hendricks Gateway Park from conception to completion."

Hendricks Gateway Park has four buildings totaling nearly 3 million square feet of modern industrial space that can accommodate users ranging from 200,000 to over 1 million square feet. The park is situated in the Southwest submarket adjacent to I-70, offering direct access to major freeways, UPS & FedEx hubs, & the Indianapolis International Airport.

“Both Building 4 and Building 1 offer fantastic access and circulation,” said CBRE’s Jeremy Woods. “When combined with the other state-of-the-art features, they meet the demands of the most discerning logistics operations.”

The Indianapolis industrial market registered 2.1 million square feet of positive net absorption during the fourth quarter of 2021, marking the 45th consecutive quarter of positive net absorption, according to CBRE Research. The Southwest submarket, which offers one of the highest concentrations of modern distribution space in the Midwest, registered 1.93 million square feet of positive net absorption and has over 2.1 million square feet in its construction pipeline.